Division of Banking and Financial Institutions

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Division of Banking and Financial Institutions

Goals and Objectives - 2013 Biennium

Department Mission: To serve, satisfy, and support our customers.

Division Mission: To protect Montanans by regulating state-chartered and licensed financial institutions under its supervision. 

Goal: Protect Montanans who enter into short term, high rate loans with lenders from abuses that occur in the credit marketplace.

Objectives: 

Examine deferred deposit, title, and consumer lenders to ensure compliance with Montana and federal law.

Issue licenses to entities who meet the requirements of law.

Provide Montanans with a consumer complaint process involving any licensed entity that violates the law.

Goal: Protect Montanans who enter into residential mortgage loans with mortgage brokers, loan originators and lenders from abuses that occur in the credit marketplace.

Objectives:

Examine mortgage broker, loan originators and lender licensees to ensure compliance with Montana and federal law.

Issue licenses to entities and individuals who meet the requirements of law.

Provide Montanans with a consumer complaint process involving any mortgage licensee that violates the law.

Goal: Provide Montanans with a safe and sound system of state-chartered financial institutions.     

Objectives:

Examine state-chartered financial institutions to assure their operations are in accordance with law and sound financial institution practices.

Coordinate the supervision of financial institutions with federal regulatory agencies.

 

Goal:  Promote the dual regulatory system that allows state and federal governments to act independently to charter, regulate and supervise financial institutions for the good of Montanans.

Objectives: 

Address the needs of banks and credit unions, the local communities and Montanans while assuring safe and sound banking practices.

Authorize state-chartered banks and state-chartered credit unions to engage in authorized activities in which the bank or credit union could engage if it were operating as a national bank or federal credit union as provided by law.

 

Goal: Improve the distribution of information and services through web-based tools.

Objectives:

Use the website, www.banking.mt.gov, to distribute press releases, consumer alerts, names of regulated financial institutions, and forms.

Promote electronic licensing of mortgage brokers, loan originators and residential mortgage lenders.

Provide electronic information, forms, or documents to financial institutions and consumers whenever possible.

Promote Montana financial education efforts, available resources and current issues.

Goal:  Create and maintain a professional, diverse and responsive workforce.

Objectives:

Provide basic training and continuing professional education to develop and maintain employees’ knowledge and skills.

Increase awareness of career opportunities by attending job fairs and explaining the purpose of the division.

Develop career ladders and offer competitive salaries to recruit and retain experienced, capable staff.

 
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